Air India VRS Scheme: Airline to bring scheme back to promote young workforce
The Tata company is getting ready to introduce the Voluntary Retirement Scheme for the employees of Air India for the second time in a row after boarding the aircraft in January 2022. Air India hopes to cut employee costs and bring on the young workforce with the VRS offer.
1500 people took VRS in June
A VRS offer for 4500 employees was previously made by Tata Group after it purchased Air India, but only 1500 employees accepted the offer. 12,085 people were working for the Tata group when the government-run airline Air India was acquired, of which 8084 were regular workers. According to media sources, the Tata group may present another VRS offer for Air India personnel over the next two to three months. For employees over 40 who have worked consistently for more than 20 years, Air India included this option in its initial VRS offer. Anyone who falls within this umbrella, including teams and airline operations, will be entitled to take the VRS.
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The hiring of young staff
Currently, Air India is actively recruiting new employees. From pilots to cabin crew to administrative professionals, Air India is currently hiring. On the one hand, the company is hiring fresh, youthful talent while on the other, it is providing VRS to those workers who fall under its ambit. Long-term airline employees will find this a fantastic opportunity to explore different career options by enrolling in VRS. In the next two years, 4000 Air India employees will retire. Airlines are working hard to restructure as a result.
The target of 30 per cent market share
Within the next five years, Air India wants to reach a 30% market share both domestically and abroad. In the domestic market, airlines currently hold a 10% stake, and on the global stage, they own a 12% share. In the next 15 months, Air India will add 30 new leased aircraft to its fleet. Additionally, it is thinking about purchasing new planes. In addition to Air India, Tata Sons, the holding company of the Tata Group, also includes Air Asia India, Vistara, and Air India Express. To cut costs, Tata Sons is getting ready to merge all of its airlines. The merger of Air India and Vistara is being discussed by the Tata group and Singapore Airlines.
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